Aston Martin Looks for a Buyer

Investment Dar Co., the Kuwaiti group that owns 64% of Aston Martin Lagonda Ltd., wants to sell its stake in the British carmaker, according to Bloomberg News, which cites several unidentified sources.

Both companies deny interest in a sale. But Bloomberg says Investment Dar has hired Rothschild Group to help find a buyer. The news service's sources say the Kuwaiti firm wants to sell its investment for about $800 million, the price it paid to acquire the stake in 2007.

Bloomberg notes that a sale would help Investment Dar restructure $4.9 billion in debt.

Aston Martin generated about $806 million in revenue last year. But analysts say the company probably needs to align itself with a larger carmaker to survive the costs of developing new models and meeting fuel economy and emission standards.

The company's sport coupes and convertibles cost between $122,000 and $300,000. Aston Martin also has introduced the $49,900 Cygnet, a tiny city car based on the Toyota iQ two-door.

Last year Aston Martin's hopes of producing the next-generation Maybach super-luxury car for Daimler AG faded when talks broke off. Daimler has since decided to phase out the slow-selling brand, whose sedans cost as much as $1 million.